STI weakens on the day, gains 2.4% for Q1

FOR all of Tuesday, the final trading day of the first quarter, trading was relatively quiet and boring - pretty much in line with the pattern of the past few days. There was some hope of a final, quarter-ending push on the Straits Times Index but as it turned out, the 7.25 points loss at 3,447.01 was probably the result of funds practising "buy in advance, sell on the day" since the index had already risen 44 points over the previous five sessions.

Turnover, however, improved to 1.4 billion units worth S$1.4 billion, the average value per unit done of S$1 an improvement on Monday's S$0.60. Excluding warrants, the market recorded 205 rises versus 240 falls. The STI's first quarter performance was a gain of 82 points or 2.4 per cent.

Brokers described the session as largely uneventful; one even wondered if investors were still in mourning, a reference to the passing of former prime minister Lee Kuan Yew last week.